on 15-05-2018 08:51 AM
just wondering if PEXA will be contacting registered mortgagees who are not PEXA subscribers and encouraging them to subscribe so that all discharge settlements can be transacted electronically?
on 16-05-2018 08:59 PM
I expect this is at the forefront of their mind. Out of curiosity, which lenders have you encountered that are not PEXA registered? We haven’t had any in the last 6 months (perhaps luckily?)
on 17-05-2018 08:40 AM
Most recently Credit Suisse, I know a tad unusual!
I know of a lot of practitioners who are also not pexa subscribers, one in particular just recently outsourced it to another practitioner.
Not sure how that works!
on 17-05-2018 01:42 PM
Some financial institutions, particularly non-ADI lenders and foreign banks, have their mortgage processing completed for them in PEXA by a panel firm, or firms, so are not themselves PEXA Subscribers. If they have given us instructions as to who these firms are, we update our Qualifier Tool, so you know who to invite into a workspace.
With mortgage-related mandates being in force in Victoria, New South Wales, South Australia and Western Australia, it is likely all lenders are transacting in PEXA directly or via a panel firm.
Hope this helps.